PACIFIC FINANCIAL CORP | 2013 | FY | 3


The following table is a summary of the trust preferred securities and debentures at December 31, 2013:
 
 
 
Issuance
 
Preferred
 
Rate
 
Initial
 
 
Rate at
 
 
Maturity
 
Issuance Trust
 
Date
 
Security
 
Type
 
Rate
 
 
12/31/13
 
 
Date
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PFC Statutory Trust I
 
12/2005
 
$
5,000
 
Variable (1)
 
6.39
%
 
1.69
%
 
3/2036
 
PFC Statutory Trust II
 
6/2006
 
$
8,000
 
Variable (1)
 
7.02
%
 
1.84
%
 
7/2036
 
 
(1)
The variable rate preferred securities reprice quarterly based on the three month LIBOR rate.

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